PHOENIX, May 5, 2004 (BUSINESS WIRE) -- Hope B. Levin has been named the
regional president for U.S. Bank in Arizona. The announcement was made by Ralph
S. "Mike" Michael, leader of commercial banking in the western region for U.S.
Bank. Levin begins her new role as regional president on Monday, May 10. She
will be responsible for supervising and managing all U.S. Bank activities in
Arizona.

Previously, Levin was senior vice president of Compass Bank's commercial banking
team in Phoenix. She started her career in financial services in 1980 as a
Certified Public Accountant for one of the nation's largest accounting firms.
She has also worked as vice president of commercial banking for Bank One in
Phoenix; Fairfield Homes, Inc. in Scottsdale as chief financial officer; and as
vice president of finance for CBS Investment Realty, Inc. in Phoenix.

"Arizona is an important growth market for U.S. Bank, and Hope will be a strong
leader for our team in the market," said Michael. "She was born, raised and
educated in Arizona and has been working in the financial services industry
since 1980. She has extensive knowledge and experience of the Arizona business
community and the financial needs of Arizonians. Hope is also a dedicated member
of the community and will continue U.S. Bank's tradition of civic involvement.
In addition, U.S. Bank has been making major investments in our western markets
including Arizona, California and Nevada by opening more than 160 new in-store
branches inside Safeway and Vons stores by the end of 2005."

"I look forward to joining the U.S. Bank team in Arizona, and doing my part as
president to help make it the number one bank in the state," said Levin. "U.S.
Bank is a strong financial institution that provides a wide variety of products
and services for its customers."

Levin is a member of Arizona Business Leadership, the American Institute of
Certified Public Accountants, the Arizona Society of Certified Public
Accountants, and Construction Financial Managers Association. She is currently
the first vice president and a member of the board of directors of the Arizona
Foundation for Women.

Levin is a graduate of the University of Arizona. Levin and her husband, Randy,
have one son. They reside in the Phoenix area.

U.S. Bancorp (NYSE:USB), with assets of $192 billion, is the 7th largest
financial services holding company in the United States. The company operates
2,275 banking offices and 4,472 ATMs, and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee which assures customers of certain key banking
benefits and services or customers will be paid for their inconvenience. U.S.
Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
usbank.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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